Open8, the Japan-based creator of female-focused video advertising network Videotap, has raised ¥800m ($6.6m) from backers including e-commerce company iStyle and online media provider Excite Japan, The Bridge reported on Wednesday.
The round also included TBS Innovation Partners, a corporate venturing subsidiary of media company Tokyo Broadcasting System, and investment firm Jafco. It will fund hiring and an expansion of Open8’s services.
Open8 runs an app advertising network concentrated on women aged 25 to 34. It plans to expand into ventures surrounding native video ads, mail-order and video media in partnership with Tokyo Broadcasting System.
The startup also intends to launch a native video advertising programme on @Cosme, a cosmetics e-commerce portal owned by iStyle, and Women Excite, a female-focused platform operated by Excite Japan.